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Cox Automotive Makes Bold Move with Subscription Services 09/12/2018 CBT Automotive is speaking today with Cox Automotive members: Joe George, president of Mobility Solutions, David Liniado, vice president of New Growth and Development, and Vince Zappa, president of Clutch Technologies to discuss the future of the automotive industry, and find out what consumers really want. Cox Automotive is expanding their business model to include a new branch of the automotive industry, vehicle subscription services. By acquiring… Read Article

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Another Gift From 2020: Car Buyers Seeking Black Friday Deals Likely Out of Luck This Year 11/23/2020 CNBC, Nov. 23, 2020 – The coronavirus pandemic is ending yet another annual holiday tradition for shoppers in 2020: Black Friday deals on new cars. Instead of offering the steep discounts to clear out older inventory, many automakers are having a hard time resupplying dealer lots with enough inventory after shutting down factories earlier the year to try to curb the outbreak this spring. That’s left… Read Article

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Is the Auto Retail Industry Poised For a Strong Start to 2021? – Jonathan Smoke 11/17/2020 CBT News, Nov. 17, 2020 – There have been many ups and downs throughout 2020 for the automotive industry. Dealers are coming off an incredible Q3, but will it carry over through Q4 and into the new year? Cox Automotive Chief Economist Jonathan Smoke joined CBT News, to discuss the latest trends for retailers and what can be expected in the days ahead. After losing a little momentum… Read Article

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Cox Automotive Analyst Zo Rahim Breaks Down CPO Sales and Market Forecasts 10/23/2020 CBT News, Oct. 23, 2020 – While dealers struggle with new-vehicle inventory, used-vehicle sales have become an emphasis for many dealers. Despite this, certified pre-owned sales have struggled since the beginning of the COVID-19 pandemic. CPO sales have been on the decline ever since stores were forced to change their daily operations, and they remain down 7% overall. Zo Rahim, manager of economics and industry insights for… Read Article

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Detroit Automakers Face Delicate Dance With Red-State Supporters 10/20/2020 Bloomberg, by Keith Naughton, Oct. 20, 2020 – Under the Trump administration, few industries have been singled out for scorn and threats from the White House as much as automakers. But even if President Donald Trump’s re-election bid falls short in November, American car companies have a much bigger constituent to answer to: their own red-state customer base. The delicate dance automakers have played with the… Read Article

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Additional Stimulus Needed to Endure Coronavirus-Induced Downturn 10/15/2020 Automotive News, Oct. 14, 2020 – Unprecedented times brought on by the coronavirus pandemic called for unprecedented support. As the positive impacts of the stimulus fade, the automotive finance industry — among others — is calling for another round. The swift actions taken at the onset of the pandemic through the passage of the CARES Act were impactful, if short-lived, in terms of the ongoing crisis.… Read Article

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Used Car Dealer Podcast Episode #15 – Interview with Cox Automotive Senior Economist Charlie Chesbrough 10/12/2020 Used Car Dealer Podcast, Oct. 12, 2020 – In episode #15, Zach Klempf has an in-depth interview with Senior Economist at Cox Automotive Charlie Chesbrough, and they discuss hot topics like: 1) What does an economist do and how does one become an economist at Cox Automotive 2) Charlie's perspective on the economy from March to present (auto-focused) 3) Wholesale prices on used inventory and impact… Read Article

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Strength of Used-Car Sales Hinges on Potential Stimulus 10/08/2020 Auto Remarketing, Oct. 8, 2020 – There is likely to be 36.1 million used-vehicle sales this year, according to the latest forecast from Cox Automotive. But that projection, and the company’s forecast for new-car sales, could hinge on whether another federal stimulus package arrives.To better illustrate that dynamic during Wednesday’s quarterly Manheim Used Vehicle Value index call, Cox Automotive's Jonathan Smoke turned to the music of… Read Article

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Wholesale Prices Cool in September After Three Months of Record Highs 10/07/2020 ATLANTA, Oct. 7, 2020 – Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) decreased 1.58% month over month in September, the first month-over-month drop in wholesale values since May. The Manheim Used Vehicle Value Index for September was 161.2, a 15.2% increase from a year ago. Manheim Market Report (MMR) prices declined at an accelerating pace over the four full weeks of September,… Read Article

Manheim Used Vehicle Value Index used vehicle market MUVVI News Coverage

Virus Set to Snap CPO Sales Streak in 2020 10/05/2020 Automotive News, Oct. 5, 2020 – After nine straight years of setting records, sales of certified pre-owned vehicles are set to decline in 2020. Blame the coronavirus pandemic. CPO sales took a hit in the spring when many dealerships were shut down for several weeks and shoppers stayed home on government orders. While the numbers have since rebounded, total CPO sales in the U.S. fell 8.8… Read Article

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Tight Inventories Set the Stage for U.S. Auto Industry Rebound 09/28/2020 Reuters, Sept. 28, 2020 – U.S. automakers are facing a problem most forecasters and industry executives did not expect when the pandemic slammed the economy this spring: Strong demand and lean inventories at dealerships. Automakers report September U.S. sales on Thursday, and forecasters expect the annualized sales pace will exceed the August rate of 15.2 million vehicles. Consumer demand for high-profit SUVs and pickup trucks has… Read Article

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